Reference: Loan
Easton
The Mosaic law required that when an Israelite needed to borrow, what he asked was to be freely lent to him, and no interest was to be charged, although interest might be taken of a foreigner (Ex 22:25; De 23:19-20; Le 25:35-38). At the end of seven years all debts were remitted. Of a foreigner the loan might, however, be exacted. At a later period of the Hebrew commonwealth, when commerce increased, the practice of exacting usury or interest on loans, and of suretiship in the commercial sense, grew up. Yet the exaction of it from a Hebrew was regarded as discreditable (Ps 15:5; Pr 6:1,4; 11:15; 17:18; 20:16; 27:13; Jer 15:10).
Limitations are prescribed by the law to the taking of a pledge from the borrower. The outer garment in which a man slept at night, if taken in pledge, was to be returned before sunset (Ex 22:26-27; De 24:12-13). A widow's garment (De 24:17) and a millstone (6) could not be taken. A creditor could not enter the house to reclaim a pledge, but must remain outside till the borrower brought it (De 24:10-11). The Hebrew debtor could not be retained in bondage longer than the seventh year, or at farthest the year of jubilee (Ex 21:2; Le 25:39,42), but foreign sojourners were to be "bondmen for ever" (Le 25:44-54).
See Verses Found in Dictionary
When you buy a Hebrew slave he will be your slave for six years. In the seventh year he may leave as a free man without paying for his freedom.
When you lend money to any of my people who are poor, do not act like a moneylender and require him to pay interest. If you take someone's cloak as a pledge that he will pay you, you must give it back to him before the sunsets, read more. for it is the only covering he has to keep him warm. What else can he sleep in? When he cries out to me for help, I will answer him because I am merciful.
If an Israelite becomes poor and cannot support himself, you should help him. He must live with you as a stranger without a permanent home. Do not collect interest or make any profit from him. Respect your God by respecting other Israelites' lives. read more. Do not collect any interest on your money or on the food you give them. I am Jehovah your God. I brought you out of Egypt to give you Canaan and to be your God. If an Israelite becomes poor and sells himself to you, do not work him like a slave.
They are my servants. I brought them out of Egypt. They must never be sold as slaves.
You may have male and female slaves, but buy them from the nations around you. You may also buy the children of the foreigners who are living among you. Such children born in your land may become your property. read more. You may leave them as an inheritance to your children, whom they must serve as long as they live. But you must not treat any Israelites harshly. Suppose a foreigner living with you becomes rich, while some Israelites become poor and sell themselves as slaves to that foreigner or to a member of that foreigner's family. He has the right to be set free by a relative, such as a brother. His uncle, his cousin, or some other relative could also buy him back. If he becomes rich, he could buy his own freedom. Then he and his buyer must take into account the number of years from the year he was bought until the year of jubilee. His sale price will be adjusted based on the number of years he was with his buyer. This is like the wages of a hired worker. If there are many years left, he must refund from his purchase price an amount equal to those years. If there are only a few years left until the year of jubilee, he must take them into account. He must refund from his purchase price an amount equal to those years. He should serve his buyer as a hired worker during those years. His buyer should not treat him harshly. If he cannot buy his freedom he and his children will be released in the year of jubilee.
Do not charge interest to your brothers, interest on money, food, anything that may be loaned at interest. You may charge interest to a foreigner, but to your brother (countrymen) you shall not charge interest. That way Jehovah your God will bless you in all that you undertake in the land you are about to possess.
When you make your neighbor a loan of any sort do not go into his house and repossess the security. Remain outside, and the man to whom you make the loan must bring the pledged security out to you. read more. If he is a poor man, do not keep the pledged security over night. Return the pledge to him before the sun goes down. He will have his pledged item and he may sleep. He will bless you. And it will be righteousness for you before Jehovah your God.
Do not pervert the justice due an alien or an orphan. Do not take a widow's garment in pledge.
The one who does not collect interest on a loan or take a bribe against an innocent person. Whoever does these things will never fall or be upset.
My son, if you serve as surety for your friend and you give your pledge to him,
Do this before you fall asleep. Do not allow your eyes to close.
He that is surety for a stranger will suffer. He that hates being surety is sure.
A man without understanding shakes hands and becomes surety for his friend.
Take his garment that is surety for a stranger and hold it as a pledge for a seductress.
Take his garment that is surety for a stranger, and take him as pledge as surety for a fornicator.
Sadness is mine! Why did my mother bring me into the world? I have to quarrel and argue with everyone in the whole earth. I have not lent any money or borrowed any; yet everyone curses me.
Fausets
(See USURY.) The merciful character of Moses' law appears in the command not to keep the poor man's outer garment, his covering by night as well as day, after sunset (Ex 22:26-27; De 24:6,10-13,17; compare, however, Pr 22:27). The millstone, including all instruments necessary to life, and a widow's garment, were forbidden to be taken. The creditor must not enter the debtor's house to seize the pledge, but wait for the debtor to bring out an adequate security for payment.
The debtor could be held as a bondman only until the seventh year, i.e. for six years, and not beyond the Jubilee year, whatever his period of service might be (Ex 21:2). Then he must be sent away with a liberal supply of provisions, the prospect of such a gift doubtless stimulating zeal in service (De 15:12-18; Le 25:39-55); his land was to be restored. But foreign slaves might be held in continual servitude (2Ki 4:1; Isa 50:1; 52:3). The Roman or else the oriental law detaining the debtor in prison until he paid the uttermost farthing, and even giving him over to torturers, is alluded to in Mt 5:26; 18:34.
See Verses Found in Dictionary
When you buy a Hebrew slave he will be your slave for six years. In the seventh year he may leave as a free man without paying for his freedom.
If you take someone's cloak as a pledge that he will pay you, you must give it back to him before the sunsets, for it is the only covering he has to keep him warm. What else can he sleep in? When he cries out to me for help, I will answer him because I am merciful.
If an Israelite becomes poor and sells himself to you, do not work him like a slave. He will be like a hired worker or a visitor to you. He may work with you until the year of jubilee. read more. Then you will release him and his children to go back to their family and the property of their ancestors. They are my servants. I brought them out of Egypt. They must never be sold as slaves. Do not treat them harshly. Respect your God. You may have male and female slaves, but buy them from the nations around you. You may also buy the children of the foreigners who are living among you. Such children born in your land may become your property. You may leave them as an inheritance to your children, whom they must serve as long as they live. But you must not treat any Israelites harshly. Suppose a foreigner living with you becomes rich, while some Israelites become poor and sell themselves as slaves to that foreigner or to a member of that foreigner's family. He has the right to be set free by a relative, such as a brother. His uncle, his cousin, or some other relative could also buy him back. If he becomes rich, he could buy his own freedom. Then he and his buyer must take into account the number of years from the year he was bought until the year of jubilee. His sale price will be adjusted based on the number of years he was with his buyer. This is like the wages of a hired worker. If there are many years left, he must refund from his purchase price an amount equal to those years. If there are only a few years left until the year of jubilee, he must take them into account. He must refund from his purchase price an amount equal to those years. He should serve his buyer as a hired worker during those years. His buyer should not treat him harshly. If he cannot buy his freedom he and his children will be released in the year of jubilee. The Israelites belong to me! They are my servants. I brought them out of Egypt. I am Jehovah your God!'
If you buy Israelites (your own brothers) as slaves, you must set them free after six years. Do not send him away empty handed when you set him free. read more. Supply him liberally from your flock and from your threshing floor and from your wine vat. Give to him as Jehovah your God has blessed you. Remember that you were a slave in the land of Egypt, and Jehovah your God redeemed you. Therefore I command you this today! If he says to you: I will not leave you. If it is because he loves you and your household, since he fares well with you, then you shall take an awl and pierce it through his ear into the door. He will be your servant for a very long time. You should do likewise to your maidservant. It should not seem hard to you when you set him free. After all he has given you six years with double the service of a hired man. Jehovah your God will bless you in whatever you do.
Do not take a hand mill or an upper millstone as security for a debt. That would be taking away a man's livelihood.
When you make your neighbor a loan of any sort do not go into his house and repossess the security. Remain outside, and the man to whom you make the loan must bring the pledged security out to you. read more. If he is a poor man, do not keep the pledged security over night. Return the pledge to him before the sun goes down. He will have his pledged item and he may sleep. He will bless you. And it will be righteousness for you before Jehovah your God.
Do not pervert the justice due an alien or an orphan. Do not take a widow's garment in pledge.
The widow of a member of a group of prophets said to Elisha: My husband has died! As you know, he was a man who respected God. A man to whom he owed money came to take away my two sons as slaves in payment for my husband's debt.
If you have nothing to pay, why should he take away your bed from under you?
This is what Jehovah says: Where are your mother's divorce papers? Did I give her any to get rid of her? To which of my creditors did I sell you? You were sold because of your sins. I got rid of your mother because of your rebellion.
For this is what Jehovah says: You were sold for nothing, and without money you will be redeemed.
Take it from me; you will stay in jail until you pay the very last penny of your fine.
His lord was angry and sent him to jail to be punished until he paid back all of his debt.
Hastings
Smith
Loan.
The law strictly forbade any interest to be taken for a loan to any poor person, and at first, as it seems, even in the case of a foreigner; but this prohibition was afterward limited to Hebrews only, from whom, of whatever rank, not only was no usury on any pretence to be exacted, but relief to the poor by way of loan was enjoined, and excuses for evading this duty were forbidden.
As commerce increased, the practice of usury, and so also of suretyship, grew up; but the exaction of it from a Hebrew appears to have been regarded to a late period as discreditable.
Ps 15:5; Pr 6:1,4; 11:15; 17:18; 20:16; 22:26; Jer 15:10; Eze 18:13
Systematic breach of the law in this respect was corrected by Nehemiah after the return from captivity.
The money-changers, who had seats and tables in the temple, where traders whose profits arose chiefly from the exchange of money with those who came to pay their annual half-shekel. The Jewish law did not forbid temporary bondage in the case of debtors, but it forbade a Hebrew debtor to be detained as a bondman longer than the seventh year, or at farthest the year of jubilee.
See Verses Found in Dictionary
When you buy a Hebrew slave he will be your slave for six years. In the seventh year he may leave as a free man without paying for his freedom.
When you lend money to any of my people who are poor, do not act like a moneylender and require him to pay interest.
If an Israelite becomes poor and cannot support himself, you should help him. He must live with you as a stranger without a permanent home.
If an Israelite becomes poor and sells himself to you, do not work him like a slave.
They are my servants. I brought them out of Egypt. They must never be sold as slaves.
When the seventh year, the year when payments on debts are canceled, is near, you might be stingy toward poor Israelites and give them nothing. Be careful not to think these worthless thoughts. The poor will complain to Jehovah about you, and you will be condemned for your sin.
Then there was a great outcry from the people and their wives against their countrymen the Jews.
Shaking out the folds of my robe, I said: So, may God send out from his house and his work every man who does not keep this agreement. Even so let him be sent out and made as nothing. All the people said: Amen! They praised Jehovah. The people did as they said.
The one who does not collect interest on a loan or take a bribe against an innocent person. Whoever does these things will never fall or be upset.
My son, if you serve as surety for your friend and you give your pledge to him,
Do this before you fall asleep. Do not allow your eyes to close.
He that is surety for a stranger will suffer. He that hates being surety is sure.
A man without understanding shakes hands and becomes surety for his friend.
Take his garment that is surety for a stranger and hold it as a pledge for a seductress.
Do not give pledges and be guarantors for debts.
Sadness is mine! Why did my mother bring me into the world? I have to quarrel and argue with everyone in the whole earth. I have not lent any money or borrowed any; yet everyone curses me.
He lends money for interest and makes excessive profits. Will this person live? He will not live. He has done all these disgusting things. So he must die, and he will be responsible for his own death.